On Tuesday Euro/Dollar increased with 110 pips ahead of Jackson Hole meeting. The European currency appreciated from 1.2464 to 1.2577 yesterday, matching the positive money flow sentiment at around +18%, closing the day at 1.2563. This morning the Euro is trading quietly, with movements at the upper end of yesterday's range for now.
On the 1 hour chart the upward channel is making renewal attempts, while on the 3 hour chart wide range trading has formed. Break above the nearest resistance ...

Seven key events in the next fortnight that will determine whether the now-four-year-old euro zone crisis results in Greece and perhaps also Spain leaving and even whether the monetary union will survive. Here is a list of the seven critical dates with their corresponding events.

The direction of the oil complex continues to be mostly driven by the evolving storm in the Gulf of Mexico. Isaac is now on the verge of being upgraded to hurricane status as it is on a direct path to Louisiana. It could make landfall late today or early tomorrow. Isaac has caused a rash of preemptive energy shut-ins covering offshore crude oil and Nat Gas production, refinery shut-ins, LOOP closure as well as logistics precautions like pipelines. So far according to the Bureau of Safety and Env...

This morning's price action is all about the euro. It bounced back above 1.25, and reached a high of 1.2560 this morning after the Eurozone reported better than expected money supply data for July and Spain sold more debt than it had intended to at an auction this morning. Usually money supply data is not particularly market-moving; however the sharp rise in the money supply suggests that lending conditions did improve in the currency bloc in the three months to July. Lending to households an...

International weapons sales by the U.S. tripled last year to reach a record high of $66.3 billion, of which $33.4 billion was pumped in by $33.4 billion sales agreement to Saudi Arabia, according to a new congressional report.

Winds and rain and Isaac have taken a nasty turn right into the heart of Gulf Oil Production. States of emergency and evacuation orders are in place along the Gulf oil and refining areas. Prices started to soar shortly after Weather Analyst Dave Tolleris of WXRISK told me that Isaac may miss Florida completely and turn into a Category 2 Hurricane and head directly into refineries and production near Alabama and Louisiana. Dave said that we are rapidly approaching that point of landfall with Isa...

On Friday Euro/Dollar decreased with 85 pips. The European currency depreciated from 1.2567 to 1.2480 on Friday, matching the negative money flow sentiment at over -11%, closing the week at 1.2509. This morning the Euro is trading quietly, with movements within Friday's range for now.
On the 1 hour chart the upward channel is on hold, while on the 3 hour chart wide range trading has formed. Break above the nearest resistance and Friday's top at 1.2567 may trigger further strengthening o...

German Chancellor Angela Merkel voiced support for Bundesbank chief Jens Weidmann on Sunday, saying she welcomed his warnings about the handling of the euro zone debt crisis and saw his influence within the European Central Bank as positive.

Germany rejected Sunday calls to give Greece more time to implement economic reforms, with the economy minister saying in an interview that Athens needs to respect the bailout deal reached with its international creditors.

The dollar begins the last day of the week stronger against nearly all of its major counterparts as stocks and commodities swing between gains and losses. Trading volumes remain thin with many market participants still on summer vacation, which has led to choppy, listless ranges for the dollar. Investors are also largely sidelined ahead of the Fed's annual summit in Jackson Hole, WY scheduled for later this month. After minutes from the FOMC's last meeting suggested that further monetary e...

EUR back above 1.25, Gold, Silver follow. The Euro is not just back above $1.25 in mid-day trading after the European stock markets have closed for the day. It is approaching 1.26 and the implied market chatter could put the Euro within striking distance of the 3-month highs of 1.27. While this is still cheap compared to recent years, it was just on 15 August that the low was under 1.22 and it was in July where we momentarily saw the Euro challenging 1.20 on the downside.

Financial markets were in a risk-off mode on Thursday as driven by weak Eurozone PMI, mixed US data and mixed comments from Fed officials concerning further monetary easing. Wall Street retreated steadily with the DJIA and the S&P 500 Indices losing -0.88% and -0.81% respectively. In the commodity sector, crude oil prices reversed gains after initially climbing higher. Gold, however, surged to as high as 1677.5 before settling at 1672.8, up 1.97%, taking cues from Chicago Fed President Charles E...

True to form, markets continued to interpret a largely inconsistent set of directives overnight, with mixed macroeconomic feedback from both sides of the Atlantic providing little in the way of clarity.